ISAs
Savings and investment advice” width=”200″ height=”133″ />Individual Savings Accounts (ISA) – Each year the treasury set an annual ISA allowance. An Individual Savings Account currently allows you to invest up to £7,200 per annum and the deadline to use the ISA allowance is the 5th April.
ISAs are very popular savings vehicles as contributions grow tax efficiently. ISAs are also flexible and allow lump sum as well as regular fixed contributions. ISAs are available to anyone over 18 and resident in the UK. 16 – 17 year olds can only have a cash ISA.
There are two types of ISA, Cash and Stocks & Shares.
From 6th April 2008 the limits for ISAs are as follows: Cash ISA = £3,600, Stocks & Shares ISA = £7,200, the overall limit being £7,200.
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